Mba560 Corporate Compliance Benchmarking
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Corporate Compliance at Arthur R. Henry
University of Phoenix
Your Name
MBA\560 Enterprise Risk
Abstract
Arthur R. Henry, Inc was founded in 1946 and specializes in construction. They originally focused on competing for contracts with the local utility companies, namely telephone, electric, water and sewer. However, they have crews that specialize in pile driving, and bridge and road construction. Furthermore, A.R. Henry has a Class B recycling facility. Since the forty’s Arthur R. Henry today has tripled in size, and has gone public. Now, and even more so, they must comply with government rules and regulations, such as affirmative action, general accounting standards, safety rules and regulations, general insurance standards, and much more local and federal guidelines.
Analysis
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Since Arthur R. Henry is a public company, they must exercise due diligence in every business practice they perform, especially when it comes to accounting and legal guidelines. Therefore, it is best to have a preventive maintenance plan in place, and be proactive when problems do arise. Some such considerations that Arthur R. Henry should implement would be to define internal controls, and customize an accounting program that best suits their needs as well as the offsite CPA firm that will be required to audit them on a regular basis.
Plan of Action. When it comes to mitigating risk, regular meetings are eminent to avoid unnecessary events from taking place. In fact, meetings with key personnel are held regularly, and distributed to other personnel when the situation calls for it. Minutes are included in CPA audits, and other financial reports, and reviews between roles and responsibilities are performed regularly. Planning is always taking place, and changes are always made to avoid future...
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